Brokerages Expect Pier 1 Imports, Inc. (PIR) Will Post Quarterly Sales of $466.33 Million
Wall Street brokerages expect that Pier 1 Imports, Inc. (NYSE:PIR) will report $466.33 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Pier 1 Imports’ earnings. The lowest sales estimate is $463.06 million and the highest is $470.10 million. Pier 1 Imports reported sales of $475.90 million during the same quarter last year, which indicates a negative year over year growth rate of 2%. The business is expected to announce its next earnings report on Wednesday, December 13th.
On average, analysts expect that Pier 1 Imports will report full year sales of $466.33 million for the current fiscal year, with estimates ranging from $1.84 billion to $1.85 billion. For the next financial year, analysts forecast that the business will report sales of $1.82 billion per share, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share.
PIR has been the topic of a number of research analyst reports. BidaskClub upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Loop Capital decreased their target price on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. ValuEngine downgraded Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $5.90 target price on shares of Pier 1 Imports in a research note on Sunday, September 3rd. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Pier 1 Imports has a consensus rating of “Hold” and a consensus price target of $5.01.
Institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its position in shares of Pier 1 Imports by 114.3% during the 3rd quarter. GSA Capital Partners LLP now owns 405,720 shares of the specialty retailer’s stock valued at $1,700,000 after purchasing an additional 216,420 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Pier 1 Imports by 5.6% during the third quarter. California Public Employees Retirement System now owns 640,729 shares of the specialty retailer’s stock valued at $2,685,000 after buying an additional 33,929 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Pier 1 Imports by 263.3% during the third quarter. Allianz Asset Management GmbH now owns 440,136 shares of the specialty retailer’s stock valued at $1,844,000 after buying an additional 318,987 shares during the period. Stifel Financial Corp boosted its position in shares of Pier 1 Imports by 35.2% during the third quarter. Stifel Financial Corp now owns 140,325 shares of the specialty retailer’s stock valued at $582,000 after purchasing an additional 36,525 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Pier 1 Imports by 6.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,439,380 shares of the specialty retailer’s stock valued at $6,032,000 after purchasing an additional 82,983 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.
Shares of Pier 1 Imports (NYSE PIR) opened at $4.45 on Wednesday. Pier 1 Imports has a twelve month low of $3.96 and a twelve month high of $9.67. The company has a market capitalization of $373.70, a P/E ratio of 9.49, a P/E/G ratio of -10.49 and a beta of 1.79. The company has a quick ratio of 0.43, a current ratio of 2.23 and a debt-to-equity ratio of 0.75.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, October 17th. This represents a $0.28 annualized dividend and a yield of 6.29%. Pier 1 Imports’s dividend payout ratio is 77.78%.
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Pier 1 Imports Company Profile
Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.
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